Historic Storefront
For Sale
$950,000
401 S Rampart Street, New Orleans, LA 70112
Multi-story historic building within CBD-1 zoning, suited to adaptive reuse and commercial redevelopment concepts.
Property Size6,050 SF
Price / SF$157.02
Days on Market268
Property Features for 401 S Rampart Street
General Information
Standard status
Active
Size
6,050 SF
Property subtype
Retail
Zoning
CBD-1
Building Details
Buildings
1
Listing Agency:
NAI Rampart Commercial Real Estate New Orleans
(504) 352-1492
Listed By:
Chris Ross
(504) 352-1492
Source:
Lacdb.resimplifi
Added: Dec 6, 2025
Changed: Aug 30
Last Checked: Aug 30 at 2:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Rampart Commercial Real Estate New Orleans
Investment Insights
Based on property information with market context.
The Eagle Saloon is a multi-story storefront property at 401–403 South Rampart Street in New Orleans. Originally constructed in the 19th century, the building is associated with the early development of jazz and remains tied to the city’s musical heritage. The property contains approximately 6,050 square feet and is positioned for redevelopment or adaptive reuse.
CBD-1 zoning supports the property’s commercial setting along South Rampart Street. The site is near New Orleans’ Central Business District, the Superdome, and the South Market District. The building may qualify for historic tax credits and other redevelopment incentives, subject to applicable requirements. Potential concepts identified for the property include hospitality, cultural, retail, and mixed-use uses.
CBD-1 zoning supports the property’s commercial setting along South Rampart Street. The site is near New Orleans’ Central Business District, the Superdome, and the South Market District. The building may qualify for historic tax credits and other redevelopment incentives, subject to applicable requirements. Potential concepts identified for the property include hospitality, cultural, retail, and mixed-use uses.
Key Highlights
- Approximately 6,050 square feet in a multi‑story building
- Originally constructed in the 19th century
- Associated with the early development of jazz in New Orleans
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$85,378
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,707,560
$1.7M
Cap Rate 7%
$1,219,686
$1.2M
Cap Rate 9%
$948,644
$948.6K
Market Conditions
NOI Build-Up for 6,050 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$116.2K $19.20/SF
− Vacancy
−$2.3K −$0.38/SF
EGI
$113.8K $18.82/SF
− OpEx
−$28.5K −$4.70/SF
NOI
$85.4K $14.11/SF
Area
New Orleans, LA
Vacancy
2.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,707,560
Cap Rate 7%
$1,219,686
Cap Rate 9%
$948,644
Alternative Uses
Best Use
Specialty Retail
$1.22M
$1.07M – $1.42M
NOI $85,378 @ 7.0% cap · market cap 8.99%
Second Best
Mixed Use
$1.17M
$1.02M – $1.36M
NOI $81,675 @ 7.0% cap · market cap 8.60%
Theoretical Best
Office A
$1.54M
$1.35M – $1.79M
NOI $107,640 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,463
Businesses Nearby
350k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 57%
Dining 15%
Groceries 12%
Shops & Services 8%
The Ritz-Carlton, New Orleans
Hotels & Casinos
59,768 visits/mo
0.3 miles
Rouses Market
Groceries
35,073 visits/mo
0.4 miles
Chevron
Shops & Services
23,516 visits/mo
0.0 miles
Holiday Inn New Orleans-Downtown Superdome
Hotels & Casinos
20,500 visits/mo
0.5 miles
Dick's Last Resort
Dining
16,371 visits/mo
0.5 miles
Demographics for 70112, LA
4,988
Population
3,711
Households
1.3
Avg Household Size
35
Median Age
44%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
4,988
Density / Sq Mi
$23,052
Median Household Income
$36,029
Median Earnings
$1,063
Median Rent
$398,400
Median Home Value
Market
Vacancy Rate% for Retail in New Orleans, LA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Multi-story historic building within CBD-1 zoning, suited to adaptive reuse and commercial redevelopment concepts.
Where is this storefront property located?
The property is located at 401 S Rampart Street New Orleans, LA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Approximately 6,050 square feet in a multi‑story building; Originally constructed in the 19th century; Associated with the early development of jazz in New Orleans
